This study investigates factors associated with initial growth intention among Norwegian business founders and moreover, if self-efficacy and growth intention are associated with variation in early business performance. The theory of planned behaviour is used to construct an intention-based research model and to derive hypotheses. The hypotheses are tested using a representative sample of 285 business founders and their new independent businesses over two points in time. The findings suggests the entrepreneurs’ initial growth intention surveyed shortly after business registration is strongly associated with subsequent actual early business performance reported 19 months later.